SAO PAULO (Dow Jones)-The board of Brazilian telecom operator GVT Holding SA approved the company to increase the amount of its investment planned for this year to 1.1 billion Brazilian reals ($623 million), the company said late Thursday in a statement.

Previously, the company was planning to invest BRL895 million in 2010. The company said it will use the additional investment to accelerate its geographical expansion.

At the end of last year, GVT was acquired by French media and telecom company Vivendi SA (VIVDY, VIVEF, VIV.FR).

-By Rogerio Jelmayer, Dow Jones Newswires; 5511-3544-7071; rogerio.jelmayer@dowjones.com
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